Coal india, SabPaisa, India's semiconductor industry, Amazon fresh, Axis Bank, Meta, Google Chrome, etc.

Market Briefs

Main Briefs

India's Semiconductor Industry Boosts Campus Engagement to Bridge Skill Gap

• Industry-Academia Collaboration: Intel India, AMD, Applied Materials, and Tessolve are partnering with institutes like IIT-Bombay to drive research and set up labs.

• Student Programs: AMD launched a summer scholar program for engineering graduates from top institutes, involving a 6-to-8-week residency.

• Talent Development: Intel India’s hiring includes 35-40% college graduates, with the 'Unnati' program setting up 250 labs in tier-2 and tier-3 colleges.

• Specialized Training: Applied Materials has initiated a semiconductor certification course with IIT-Bombay and set up labs for nanoelectronics and material sciences.

• Workshops and Internships: Tessolve is increasing campus hiring and offering workshops, partnerships, and internships to boost engineering talent.

• Diversity Initiatives: Companies are focusing on closing the gender gap with women-centric recruitment programs, internships, and mentorship opportunities.

• Projected Growth: The Indian semiconductor sector is expected to grow to $64 billion by 2026, with a potential deficit of 250,000 to 300,000 professionals by 2027.

Heatwave Drives 7.3% Increase in India's Coal-Based Power Consumption

• Increased Demand: Coal-based power demand in India has risen by 7.3% this fiscal year.

• Record Peak Demand: Northern India experienced record peak power demand due to a prolonged heatwave.

• Heatwave Prediction: The IMD forecasts above-normal temperatures for June in northwest and central India.

• Coal Production Growth: Coal production reached 207.48 million tonnes by June 16, a 9.27% increase from last year.

• Power Generation Dependency: Over 75% of India's power generation comes from coal, with gas-fired plants accounting for only about 2%.

• Government Measures: The Ministry of Coal is committed to ramping up coal production and transportation to ensure adequate power supply.

Indian Briefs, You Can’t Miss:

1. 28% GST on Online Gaming Remains Unchanged in Upcoming Council Meeting.

2. Auto Industry Booms with 19% Growth, Hits ₹10.22 Lakh Crore Milestone.

3. SabPaisa Secures Payment Aggregator License from RBI.

4. Pocket FM's Insta-Empire Reaches ₹100 Crore in Revenue.

5. Airtel Acquires Additional 1% in Indus, Raising Stake to 48.95 % .

6. Uttar Pradesh Government Expands Industrial Land Bank to 25,000 Acres.

7. Axis Bank Raises Max Life Holdings with ₹336 Crore Purchase.

8. Amazon Fresh Broadens Reach, Serving Over 130 Cities in India.

World Briefs

• Meta Restructures Metaverse Team, Announces Layoffs.

• Threads by Meta Opens API Access to Third-Party Developers.

• Google Chrome Introduces Web Page Read-Aloud Feature in 12 Languages.

• Ex-OpenAI Chief Scientist Ilya Sutskever Unveils New AI Venture.

• Ford Announces More Job Cuts in Europe, Warns German Works Council.

AI Briefs

• AI-Powered Image Generation Comes to Adobe Reader.

• AI Meets Social Networking on New Platform 'Butterflies’.

• Meta AI Unblocks Election Queries in India, Google Stays Restrictive.

• New AR Generation Tool Previewed by Snapchat's Real-Time Image Model.

• AI-Powered SewerAI Identifies Defects in Sewer Infrastructure.

• Shutterstock Debuts ImageAI Text-to-Image Generator on Databricks.

Company Of The Day

Company Name: SabPaisa

Founder: Abhimanyu Jha, Kumar Manish, Pathikrit Dasgupta, Rajiv Moti

Year Of Foundation: 2016

Headquarter: New Delhi, Delhi, India

Industry: SabPaisa develops API driven unified payment experience platform which supports all methods of payment collections.

Why Is It in the News?

SabPaisa has received approval from the RBI to function as a payment aggregator.